"But why? Class interests no doubt play a role—the wealthy tend to be lenders rather than borrowers, and they benefit at least in relative terms from deflationary policies. But I also suspect that conservatives have a deep psychological problem with modern monetary systems.
"You see, in the conservative worldview, markets aren't just a useful way to organize the economy; they're a moral structure: People get paid what they deserve, and what goods cost is what they are truly worth to society."
Paul Krugman in The New York Times warns that for conservatives "monetary policy isn't really a technical issue, a question of what works; it's a matter of theology[.]"
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